Shares of Louisville-based Yum shed as much as 10% in the early going.

Week ahead: Fiscal cliff, Greece

(5:11)

Uncertainties over the latest U.S. fiscal cliff negotiations and the latest Greek debt deal will dominate Europe's week ahead.

Genesco
GCO, +0.68%
raised its full-year earnings forecast Friday as the Nashville-based company specializing in footwear and apparel posted net profit of $40.9 million, or $1.70 a share, for the third quarter ended Oct. 27, up from $26.1 million, or $1.09 a share, earned in the year-earlier period. On an adjusted basis, Genesco said it would have had income from continuing operations of $1.44 a share for the latest quarter, ahead of consensus. Quarterly sales rose to $664.5 million, up nearly 8%.

As revised, Genesco said it now anticipates full-year earnings of $5 to $5.08 a share on an adjusted basis, up from management’s prior estimate of $4.88 to $5 a share; comparable earnings for fiscal 2012 were $4.09 a share.

However, shares of Genesco traded down as much as 8% shortly after the open of trading.

And shares of WhiteWave Foods
WWAV, +0.14%
lately gave up more than 3%, retreating on the heels of the Dallas-based company’s third-quarter results.

WhiteWave posted net earnings of $26.3 million, or 18 cents a share, down from $29.8 million, or 20 cents, it would have earned in the third quarter 2011. The results for the three months through September marked the first report for the company since its initial public offering in October; Dean Foods Co.
DF, +0.28%
remains majority owner following the IPO.

On an adjusted basis, WhiteWave’s results showed, pro forma earnings would have been 16 cents a share for the latest quarter, up from 12 cents a year earlier. The consensus of analysts had been WhiteWave to turn a profit of 17 cents a share.

Quarterly sales, on a pro forma adjusted basis, grew 13% from the prior year, and WhiteWave said it expects to generate growth for the fourth quarter at a rate in the “low-double digits.” Profit for the latest quarter is pegged at 16 cents to 18 cents a share, also on a pro forma adjusted basis, which would yield full-year profit of 58 cents to 60 cents a share.

Also Friday, United Natural Foods
UNFI, -1.04%
hit the mark with its earnings for the first quarter ended Oct. 27: Profit on an adjusted basis would have been 46 cents a share, matching the consensus of analysts who follow the Providence, R.I.-based company. Net earnings improved to $21.5 million, or 43 cents a share, up from the prior year’s $15.2 million, or 31 cents.

Quarterly sales jumped to $1.41 billion, ahead of the consensus view of $1.39 billion as compiled by FactSet Research. Gross margin, however, narrowed to 16.7% from the prior year’s 17.8%, United Natural Foods said.

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